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Illinois Gov. JB Pritzker, Michigan Gov. Gretchen Whitmer, Ohio Gov. Mike DeWine, Wisconsin Gov. Tony Evers, Minnesota Gov. Tim Walz, Indiana Gov. Eric Holcomb and Kentucky Gov. Andy Beshear jointly announced the COVID-19 partnership.
The deal for 302 West Third marks Time Equities' third acquisition in the Tri-State Region over the last two years. Other notable regional acquisitions include Brookside Industrial Park in Indianapolis and the Arbor at Montana Apartments in Cincinnati.
The unnamed Asian investor will contribute approximately $108 million for a 39% equity interest in the joint venture and ILPT will own the remaining 61% equity interest in the joint venture.
The 164,360-square-foot building is currently 85% leased to 17 high quality tenants at below market rents. The property has undergone $4.2 million in exterior building upgrades, site work upgrades and interior improvements over the past two years.
Funding totaling $87 million was recently secured on behalf of SROA Capital for the refinancing of a 36-property portfolio of self-storage facilities spanning three states: Florida, Kentucky and Ohio.
The three recently constructed Class A warehouse/distribution facilities located within Park North at Monroe were sold by Atlanta-based IDI Logistics, which developed the properties.
NEW YORK CITY—Locally-based GMF Capital, LLC has secured a $66-million senior credit facility to refinance a portfolio of 14 skilled nursing facilities…